Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-08-11
o1NC1NNAr1, HAMILTON AND u Ayrox.
AFTRR CONSIDERABLE INNESTIGATION !
AFFAIRs Found IN FAIR CONDITION.

CINCINNATI, HAMILTON AND u AyTON.
AFTRR CONSIDERABLE INVESTIGATION
AFFAIRS FOUND IN FAIR CONDITION.
New YORK, Aug. 10.-Snortly before
noon to-day the committee appointed 20
investigate Henry Ives management Of
the Cincinnati, Hamilton and Dayton
Road met to listen to any statement which
Mr. Ives might have to make. at noon
Ives had lot appeared. HIS partner,
Mr.. D0renUs, expressed doubts
as to whether MI Ives WsuJed 10 make
any statement, bus the members OF the
committee state that he distinctly prom
ised to make 8 fail eud Complete state
ment Ot the affairs of the company. They
also expect him 60 resign, and Mg. Meyer
SAID that if Mr.. Ives did not resign to-daY
the road will be thrown into the hands Of
s receiver. Msny OF the committee think
this IS the best course 10 tske IN any
event, so thai the stockholders may be
enabled to get st tee books 8nd thorough
| ly investigate tie GOirgs Of Mr.. Ives.
| Mr.. Meyer says the ClnCinn&;i people
are complaining there is shortage
! of 5000, 600, and that il this cannot be
explained criminal proceedings viii a.
once be instituted. The committee was
compelled to wait over one hour, as it vas
/ 80 when Ives orrived g. his office,
! whsre the meeting was being held.
/ There was much delay getting things int
shape for business, but when things were
arranged business was lively enough.
! The first thing done was 10 receive the
resignation OF President S .ayner and Ives,
and the election Ct A. S. Wi0sloW OF
! Cincinnati IS pTesi1 ent and Christopher
! Meyer OF New YC!k as yiCe-pres.dent.
The creditors appointed committee
consisting of Irving A. Evans, T. j. En-
eroy and James Thompson, to meet
committee Of directors consisting Of
julius Dexter, Christopher Meyer and
! Horror, 10 take further steps in the re-
organization OF tae company. The cred
TORS committee met Immediately 10 be-
gin the Investigation Of the affairs of the
company.
4 quorum of the board of directors Of
the road was present and there was Just
a ms )rity Of one against the present man
agement. Just before O'CLOCK Mr. Ives
rushed out and secured big ledger in
another ctIice and rushed back with the
ledger on his shoulder. He started IN to
explain matters to other directors,
but his explanations did not seem
| .
When the reporter asked him if he had re
signed, he SAID he could not answer until
, O'Clock When asked TO explain the
situation, he waved his hand toward the
cashier and said "You can see that we
are meeting our liabilities, as usual -
The meeting adjourned until tomorrow
without finishing work. Ives has turned
4 over his property to Waite, Meyer &
Dexter es trustees, and is trying TO ar
range with his creditors TO put their
claims in the same hands. Nothing will
be done in this matter till morning,
although consideration Of the proposition
has led the Farmers Loan and Trust
Company to withdraw llG0 shares of
Cincinnati, Hamilton and Dayton stock
from auction sale tomorrow on the eX-
change. To-day Doremus, Ives and Patrick
bought 100 shares sold yesterday at 40
from the BUYERS and paid loo for it.
TIE stockholders committee has finished
the count of the remcining certificates Of
preferred stock and from tnat about
(, 600, 900 has been issued. This is stated
to be much less than was feared. It
is stated oy counsel for the
. creditors committee that their claims
will not be placed in the trusteeship pro-
posed By Ives. The resignation of both
Ives and Stayner is officially stated to
have been unconditional. The commit
tee OF directors spent some time in con-
ference with the creditors committee
/ The books of the late President and Vice
| President were examined informally and
( under careful scrutiny the conditions OF
affairs, it is said, seemed to be
much more favorable than was supposed
Several DAYS examination by expert &C
countants will be necessary however be-
fore any definite idea of how matters
stand will be obtained. The board Of
directors Of the Cincinnati, Hamilton anc
; Dayton roads as now consolidated, Is
composed of \ S. Winslow, Christophel
Meyer, Henry S. Ives, Geo. H. Stayner
Johu Carlisle, julius Dexter, +. II Short
G. G. Waite and W. G. Boone.